Kempower: Time for a charging break in midst of all the action
2022 ended strongly in terms of new orders, production volumes and profitability. Guidance for 2023 seems slightly cautious and leaves room for even a slower start of sales in the US. We raised our earnings estimates for the next few years, but valuation has still risen to a level where the risk/return ratio no longer appears attractive.
Kempower operates in the industrial sector. The company is a developer of charging solutions and services aimed at the automotive sector. The range mainly includes charging posts, stations, sockets, and associated electronic equipment. In addition to the main business, various after-sales services and technical support are offered. The largest operations are found in the Nordic region and parts of Europe.
Read more on company pageKey Estimate Figures15.02.2023
| 2022 | 23e | 24e | |
|---|---|---|---|
| Revenue | 103.6 | 209.3 | 305.5 |
| growth-% | 278.1 % | 102.0 % | 46.0 % |
| EBIT (adj.) | 6.7 | 16.5 | 38.5 |
| EBIT-% (adj.) | 6.5 % | 7.9 % | 12.6 % |
| EPS (adj.) | 0.07 | 0.22 | 0.53 |
| Dividend | 0.00 | 0.00 | 0.00 |
| Dividend % | |||
| P/E (adj.) | 283.3 | 45.4 | 19.3 |
| EV/EBITDA | 117.9 | 23.6 | 10.7 |
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